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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

 

 

Three Months Ended March 31,

 

 

 

2015

 

 

 

2014

 

 

(In thousands)

 

Current:

 

 

 

 

 

 

 

Federal

$

7,316

 

 

$

4,994

 

State and local

 

1,478

 

 

 

1,186

 

Foreign

 

520

 

 

 

(267

)

Total current provision

 

9,314

 

 

 

5,913

 

Deferred:

 

 

 

 

 

 

 

Federal

 

3,840

 

 

 

3,331

 

State and local

 

624

 

 

 

511

 

Foreign

 

131

 

 

 

478

 

Total deferred provision

 

4,595

 

 

 

4,320

 

Provision for income taxes

$

13,909

 

 

$

10,233

 

 

Summary of Company's Net Deferred Tax Assets

The following is a summary of the Company’s net deferred tax assets:

 

 

As of

 

 

March 31,

2015

 

 

December 31,

2014

 

 

(In thousands)

 

Deferred tax assets and liabilities

$

10,648

 

 

$

12,468

 

Valuation allowance

 

(7,371

)

 

 

(7,428

)

Deferred tax assets, net

$

3,277

 

 

$

5,040